Last updated on April 23, 2014 at 1:22 EDT

Apollo Gold Announces the Results From Its First Round of Drilling at Its Huizopa Property

August 14, 2008

Apollo Gold Corporation (“Apollo”) (TSX:APG)(AMEX:AGT) is pleased to announce the results from the core drilling program completed in the second quarter 2008 on the Puma De Oro exploration target on its Huizopa Property in the Sierra Madres in the State of Chihuahua, Mexico. Twenty-five NQ core holes were drilled on a north-trending zone targeted for drilling based on Apollo’s geochemical sampling and geologic mapping. Anomalous gold and silver was found in twenty of the holes with six of the twenty holes having significant gold and silver values. Drilling assay results of core holes with intercepts greater than 0.5 grams per tonne are shown below.

 Assays         Assays From           To           grams          grams Hole I.D.       Meters        Meters       Au/tonne       Ag/tonne ---------------------------------------------------------------------- PDO 08                24.8          26.4            1.1           12.0 ----------------------------------------------------------------------  ---------------------------------------------------------------------- PDO 09                37.5          38.1            4.1           46.0 ---------------------------------------------------------------------- PDO 09                38.1          39.2            1.6           18.0 ---------------------------------------------------------------------- PDO 09                39.6          40.0            0.8           11.5 ----------------------------------------------------------------------  ---------------------------------------------------------------------- PDO 10                81.1          81.3            0.0           61.0 ---------------------------------------------------------------------- PDO 10                81.3          81.9            0.0           20.7 ---------------------------------------------------------------------- PDO 10                81.9          83.4           42.5          162.0 ---------------------------------------------------------------------- PDO 10                83.4          84.7            0.5           29.7 ----------------------------------------------------------------------  ---------------------------------------------------------------------- PDO 11                83.5          85.0            1.7           24.8 ---------------------------------------------------------------------- PDO 11                85.0          85.5            0.8            7.8 ---------------------------------------------------------------------- PDO 11                85.5          87.1            1.3           19.2 ---------------------------------------------------------------------- PDO 11               119.1         120.2            3.7            5.3 ----------------------------------------------------------------------  ---------------------------------------------------------------------- PDO 13                81.7          83.2            4.7           64.0 ---------------------------------------------------------------------- PDO 13                83.2          83.7            0.5           23.7 ----------------------------------------------------------------------  ---------------------------------------------------------------------- PDO 15                29.6          30.3            9.0          262.0 ---------------------------------------------------------------------- PDO 15                32.3          32.7           21.6          340.0 ---------------------------------------------------------------------- Assays were performed by Inspectorate America Corporation of Sparks, Nevada. 

Richard Nanna, Senior Vice president of Exploration, said, “We are very encouraged by the results of this first phase of drilling at Puma De Oro as the drilling indicates the potential of a significant gold system with a current strike length of over 1,000 meters and it is very promising to get results like this on the first exploration drilling program on a new target.”

Apollo Gold Corporation

Apollo is a gold mining and exploration company which operates the Montana Tunnels Mine, which is a 50% joint venture with Elkhorn Tunnels, LLC, in Montana, the Black Fox advanced stage development project in Ontario, Canada, and the Huizopa project, an early-stage exploration project in the Sierra Madres in Chihuahua, Mexico.

This press release has been reviewed and approved for release by Richard Nanna, Professional Geologist and Apollo’s Senior Vice-President, Exploration and Development and designated “Qualified Person” under Canadian NI 43-101.


This press release includes “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as “may,”"should,”"expects,”"plans,”"anticipates,”"believes,”"estimates,”"predicts,”"intends,”"continue,” or the negative of such terms, or other comparable terminology. All statements regarding the potential of a significant gold system and its strike length are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from these forward-looking statements include: the results of independent Canadian NI 43-101 reports, the outcome of assays and additional exploration sampling and drilling efforts and other factors disclosed under the heading “Risk Factors” and elsewhere in Apollo documents filed from time to time with the Toronto Stock Exchange, The American Stock Exchange, The United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements included in this press release are based on information available to Apollo on the date hereof. Apollo assumes no obligation to update any forward-looking statements.